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Claim
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Limits
The maximum amount of benefits the insurance company agrees to pay in the event of a loss.
Premium
The money paid for an insurance policy based upon the coverage provided.
Junk Title
A Junk Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle for safe operation exceeds its fair market value; or a vehicle that has been declared a total loss by an insurer or other state or jurisdiction.
Hit and Run
An accident caused by someone who does not stop to assist or provide the required and necessary information.
Negligence
The absence of ordinary care.
Subrogation
The process in which an insurance company, after paying a loss to its insured, recovers the amount of the loss for damages (plus the insured's deductible) from the legally liable party.
Airbag Deployment
Occurs when the driver, passenger or side airbag has been used or deployed during a crash or other incident.
Flood Damage Title
States issue flood titles when a vehicle has been in a flood or has received extensive water damage.
Medical Payments Coverage
Covers the medical costs (up to the specified limit you choose) resulting from an auto accident for you, your family, and others in your car. It pays regardless of fault.
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